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The Influence of Human Resources Competency Management on the Business Success of Small and Medium Enterprises

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  • Klepić Iva

    (University of Mostar, Bosnia and Herzegovina)

Abstract

The success of the organization is based on the quality of human resources, their competencies, motivation, loyalty, and their business results. The basic aim of this research is to determine whether and to what extent human resources competency management influences the business success of small and medium enterprises (SMEs). The empirical research was conducted in 234 SMEs in the Federation of Bosnia and Herzegovina in January 2021. An original questionnaire was created for the survey, which gathered the opinions of top managers. In the paper, human resources competency management is viewed as a process consisting of: determining the required competencies, determining current competencies and the competency gap and undertaking activities to ensure and develop the necessary competencies. For the business success of SMEs, business performance was researched through four perspectives of the Balanced Scorecard (financial, customer, internal business processes and learning and growth perspective). The research results showed the correlation between the studied variables and the influence of human resources competency management on the business success of SMEs viewed from all four perspectives. The paper includes a comparison with similar research, limitations and recommendations for future research. The originality of this work lies in creating an original model of the connection between human resources competency management and business success (performance) of SMEs as viewed through four perspectives of the BSC, which has been empirically tested. Also, no such research has been conducted in B&H to investigate the influence between the human resources competency management and the business success of SMEs.

Suggested Citation

  • Klepić Iva, 2022. "The Influence of Human Resources Competency Management on the Business Success of Small and Medium Enterprises," Naše gospodarstvo/Our economy, Sciendo, vol. 68(4), pages 12-27, December.
    • Handle: RePEc:vrs:ngooec:v:68:y:2022:i:4:p:12-27:n:2
    DOI: 10.2478/ngoe-2022-0020
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    References listed on IDEAS

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    1. Hannele Lampela & Kyllikki Taipale-Erävala & Pia Heilmann, 2017. "SME Business Models and Competence Changes," International Journal of Management, Knowledge and Learning, International School for Social and Business Studies, Celje, Slovenia, vol. 6(2), pages 175-192.
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      More about this item

      Keywords

      Business performance; Balanced scorecard; Competency management; Human resources; Small and medium enterprises;
      All these keywords.

      JEL classification:

      • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
      • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
      • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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